Baker Hughes CEO says rising financing costs have not hampered investment in energy projects

Baker Hughes (BKR.US) Chairman and CEO Lorenzo Simonelli stated that there are no signs yet of rising borrowing costs slowing down investments in large-scale energy projects, and that the construction of global artificial intelligence infrastructure is driving strong demand for natural gas and electricity. Simonelli said, “We have not yet seen signs of an investment slowdown, and whether projects can secure financing essentially depends on existing offtake agreements and the outlook for energy demand.” Simonelli noted that while financing remains an important consideration for projects, continued population growth, industrial development, and increased energy demand from data centers are all supporting ongoing investment.